Richard Vining third boss of £250m turnover business to depart since 2008
The chief executive of £250m turnover Shepherd Construction has left the company in the third change in chief executive at the firm since 2008.
A source close to the business said Richard Vining, who joined Shepherd Construction as managing director of the southern business in 2009, left after a disagreement with senior management at the family-owned construction and property giant.
A spokesperson for the firm said Vining left the business on the 23rd of January, and that customers and suppliers had been informed, but declined to comment on the reasons for Vining’s departure.
The change leaves Shepherd Group’s built environment division chief executive Mark Perkins in temporary control of the construction business, as head of Shepherd Construction’s executive board.
Vining’s departure leaves Shepherd Construction looking for its fourth chief executive in as many years, with Vining’s predecessor Alan McDougall spending little more than a year in the post before moving to a new role within the wider group.
Vining, who was promoted to be chief executive of the business in October 2010, had seemed to have presided over a period of relative stability for the business, with Shepherd Construction recording a 35% increase in turnover in the year to June 2011, and producing a £4.1m profit, the business’ first profit for three years.
Vining was appointed following a period in 2010 when turnover fell 43%, with hundreds of staff departing. Shepherd had been hit by the collapse of the Trinity Wharf shopping centre scheme in Wakefield, on which it was owed £12.4m.
Shepherd Construction is just one part of the £600m turnover Shepherd Group, which runs a housing business, as well as owning modular-building firm Portakabin and off-site manufacturer Yorkon.
In a statement Perkins said: “Richard leaves with our thanks for having been part of the team that has worked hard to help develop our construction activities over the last 18 months.
“Shepherd Construction has made great progress and the company’s profitability and resilience is proving strong in the current economic climate. We will continue our strategy to improve this further as we look to grow the business and diversify into new sectors.”
Building was not able to contact Vining over the issue.